"Tech Companies Okta and Zoom Cut Hundreds of Jobs Amid Workforce Restructuring"

Video-conferencing platform Zoom is cutting about 150 jobs, or close to 2% of its workforce, as part of an effort to align its teams with its strategy and add capabilities. The layoffs are not companywide, and Zoom plans to continue hiring in critical areas such as artificial intelligence, sales, and product. This move comes as more than 100 tech companies have laid off about 30,000 employees to start the year, with January being the busiest month for job cuts in the industry since March. Zoom's stock has stumbled as the pandemic subsided and many workers returned to in-person roles, with shares down about 10% this year and almost 90% from their record high in October 2020.